Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing (X) Amending
Type of Service: Redevelopment Agreement
Purpose: First Amendment to Agreement for Sale of Land and Redevelopment
Entity Name: 650 Springfield Ave Urban Renewal, LLC and 41 19th Ave Urban Renewal, LLC
Entity Address: 61 Deans Lane, Monmouth Junction, New Jersey 08882
Contract Amount: N/A
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a
Additional Information:
The First Amendment to the Redevelopment Agreement will update the Project description and permit the development of a portion of the Project, as defined in the Agreement, by 41 19th Ave Urban Renewal, LLC, an affiliate, for the period of twelve (12) to twenty-four (24) months of receiving the building permits.
List of Property:
(Address/Block/Lot
ADDRESS/BLOCK/LOT
650-656 Springfield Avenue/364/21
709 South 16th Street/364/9
711 South 16th Street/364/10
713 South 16th Street/364/11
715 South 16th Street/364/12
717 South 16th Street/364/13
708 South 17th Street/364/28
712 South 17th Street/364/26
714-716 South 17th Street/364/24
718-722 South 17th Street/364/22
724-726 South 17th Street/364/29
55 19th Avenue/364/1
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WHEREAS, on April 19, 2017, the Municipal Council (the "City") adopted Resolution 7R2-g(AS) authorizing the City to enter into an "Agreement for the Sale of Land and Redevelopment by and between the City of Newark, as a Redevelopment Entity, and 650 Springfield Ave Urban Renewal, LLC, as Redeveloper" (the "Agreement") for the sale of the following City-owned properties located in the South Ward:
ADDRESS BLOCK LOT SIZE SQ. FEET
650-656 Sprin...
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